Home Capital Broker's Calls

Analysts keep 'hold' on SPH REIT as retail leasing sentiment improves

Khairani Afifi Noordin
Khairani Afifi Noordin10/11/2022 09:43 AM GMT+08  • 4 min read
Analysts keep 'hold' on SPH REIT as retail leasing sentiment improves
Paragon is expected to anchor SPH REIT’s status as a reopening play. Photo: Samuel Isaac Chua/The Edge Singapore
Font Resizer
Share to WhatsappShare to FacebookShare to LinkedInMore Share
Scroll to top
Follow us on Facebook and join our Telegram channel for the latest updates.

Analysts at DBS Group Research, OCBC Investment Research and CGS-CIMB Research have maintained their “hold” on SPH REIT following its FY2022 earnings result announcement.

DBS Group Research analysts Geraldine Wong and Derek Tan have kept their target price at 96 cents on the back of strong reopening play. In their note, the analysts point out that the tenant sales at Paragon — SPH REIT’s key asset — continue to recover on the back of higher domestic spending and influx of tourists since borders reopened in April.

“We estimate that tenant sales have now reached about 89% of 2019 levels on a full-year basis, with good reasons to expect a festive boost to operating metrics in 1QFY2023 (quarter ending December 2022) alongside the strong monthly traction of tourist arrivals.

×
Loading next article...
The Edge Singapore
Download The Edge Singapore App
Google playApple store play
Keep updated
Follow our social media
Subscribe to The Edge Singapore
Get credible investing ideas from our in-depth stock analysis, interviews with key executives, corporate movements coverage and their impact on the market.
© 2022 The Edge Publishing Pte Ltd. All rights reserved.